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Awilco LNG and CDB Leasing ink sale and leaseback deal

Photo: AdobeStock LNG pipes leading to LNG-carrier
Norwegian based Awilco LNG and China Development Bank Leasing (CDB Leasing) have signed a sale and leaseback agreement for two LNG carriers.

Awilco LNG had chartered the two 156,000 cu metre membrane LNG vessels vessels, Wilpride and Wilforce, from Bermuda-based owner Teekay Partners since 2013, when the company sold the vessels to Teekay. 

Aeilco LNG and CDB Leasing entered into the finance lease agreement at a consideration of not exceeding $200 million with a lease period of 144 months. 

Upon expiration of the lease period, Awilco LNG may purchase back the vessels from CDB Leasing.

Signing of the deal benefits the company by increasing revenue and is consistent with the company’s business development strategy, commented CDB Leasing.